Monaco-based Unaoil asks for judicial review

Unaoil, the Monaco company facing investigation by the UK’s Serious Fraud Office (SFO), has asked for a high-level judicial review of the handling of the case.

Hugo Keith, a lawyer for Unaoil and its top three executives, argued in front of a judge in London that the SFO had misled the authorities in Monaco ahead of a raid on the office and homes in the Principality of Ata Ahsani, Cyrus Ahsani and Saman Ahsani.

In papers filed with the court, Keith said: “Had the true position been conveyed, the request would have looked much less urgent; the contention that there was ongoing illegality would have appeared much less convincing… This was, quite simply, far too broad a formulation and amounted to an impermissible fishing expedition.”

Sixty-five boxes of seized materials were taken to London in a Mercedes-Benz Sprinter van, Keith also said. Unaoil claims that materials taken to the UK included papers that had no connection to Iraq, while the SFO’s request for Monaco’s assistance centred on allegations of bribery in Iraq.

[caption id="attachment_18069" align="alignnone" width="709"] Junior Chamber International VP Kevin Hin, JCI Senate Monaco President Pierre Brière, JCI World President Dawn Hetzel, and Olivier Mura, President JCEM.[/caption]
On Tuesday, June 13, Monaco’s Junior Chamber of Commerce (JCEM) held a Plenary session at the Société nautique de Monaco, welcoming a special visit from Dawn Hetzel, the World President for the Junior Chamber of Commerce (JCI).
JCI is a non-profit organisation that counts 200,000 members, between the age of 18 to 40, worldwide. More than 120 countries are involved, forming 5,000 local chapters that embrace the group’s mission to provide development opportunities to empower young people to create a positive change in our world.
American Dawn Hetzel takes this to heart, and especially wants to address the critical challenges facing the current work forces during her year long role as World President. “As the world President, it’s my job to travel and I’ll visit some 60 to 70 countries. I was invited to Monaco and despite the small size of Monaco: JCEM is very active and dynamic within the community. I’m here to support and encourage them.”
Ms Hetzel first joined JCI fifteen years ago. “Every step that I’ve taken at JCI has been about giving back to an organisation that has given me more than I could ever repay. A lot of people have believed in me and encouraged me to grow. And, as leaders in our community, it’s our obligation to help young people joining to see their potential.”
She added, “Stepping into this role is the ultimate gift I can give back to the organisation. It’s a humbling experience and an incredible opportunity.”
JCI is, as Ms Hetzel pointed out, a special group of individuals who are connected to and believe in something bigger than themselves.
As an example of the JCI spirit, Ms Hetzel mentions the active organisation in Syria, where the 20 members are realistic about their circumstances, but they have resilience and heart. JCI brings all people together, and despite the difference and conflict the group knows how to sit in a room together and work things out.
Ms Hetzel hopes she’s remembered in her Global President position for opening the dialogue on how we relate to the next generation, the Millennials, because in five years they will make the largest part of the workforce.
[caption id="attachment_18055" align="alignnone" width="802"] At Tuesday's JCEM event, members flashed a white card in support of Peace and Sport's annual campaign[/caption]
In a separate event, JCEM is hosting their second breakfast conference of the year, on Friday, June 23, in the exceptional setting of the Oceanography Museum.
The guest speaker, Marie-Pierre Gramaglia, Minister of the Environment, Work and Urban Development, will talk about "Energy transition of the Principality", a policy being carried out by the government on three priority axes: mobility, waste treatment and energy efficiency in buildings.
The event is open to non-JCEM members, for which tickets are €25/ person; €20 for JCEM members as well as Candidate, Senator, JCEM Associate: 20 €
Registration, necessary before June 21, 2017, can be made online.
The following week, on Thursday, June 29, “Business Time Networking” will take place, joining forces with the Stelios Philanthropic Foundation for a cocktail-conference on Entrepreneurship and Philanthropy.
Described by the organisers as “an unforgettable event,” it will take place from 6:30 pm to 10 pm at Sir Stelios’ Terrace, with speeches, at 7 pm, given by Sir Stelios Haji-Ioannou, founder of the Stelios Philanthropic Foundation and Chairman of easyGroup, and Michael Bouquier, Head of Monaco Private Label and Senior Advisor at the Ministry of Finance and Economy.
The event, which is partnered with Your Private Driver, Monaco Receptions and BSI, is entirely in English. The cost is €20 for JCEM members and €25 for non-members. For any further information contact Laetitia Mikail: laetitia.mikail@jcemonaco.mc.

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[caption id="attachment_30292" align="alignnone" width="498"] Antony Sheriff, Executive Chairman Princess Yachts. Photo: Twitter Princess Yachts[/caption]
One of the best-known brands in luxury boat-building has reported record annual revenue for 2017, bolstered by the booming global economy and foreign buyers attracted by the fall in the value of sterling since the Brexit vote.
Princess Yachts has taken on 500 workers at its Plymouth shipyard, taking the total workforce to 2,700, to respond to what it calls “exploding demand” from global customers.
The company’s revenue for 2017 jumped 27 percent to a record €314.86 million (£274.4 million) and the company swung to an operating profit before exceptional costs of €9.6 million (£7.9 million) from a loss of €8.03 million (£7 million) in the previous 12 months.
Princess, which is majority French-owned, was able to deliver 230 vessels in 2017, although it has been selling them at a rate of about 300 a year, resulting in a backlog.
Antony Sheriff, its executive chairman, said: “The macroeconomic situation, other than recent rumblings of trade wars, is one where the market continues to grow and people are feeling very optimistic. We are going to increase production by about 25 percent.”
Orders have been particularly strong in Europe, Hong Kong, the Middle East and South East Asia, with interest picking up in mainland China, he said.